April was Financial Literacy month, and Evangel partnered with Vital Magazine to present a guest series of topical articles by Dr. Duane Praschan, Associate Professor in the Business Department and author of the book, Personal Finance Made Simple. Praschan serves as the Coordinator of the Master of Organizational Leadership program. Prior to joining the EU family, […]

April was Financial Literacy month, and Evangel partnered with Vital Magazine to present a guest series of topical articles by Dr. Duane Praschan, Associate Professor in the Business Department and author of the book, Personal Finance Made Simple.

Praschan serves as the Coordinator of the Master of Organizational Leadership program. Prior to joining the EU family, he was bi-vocational, serving several churches as lead pastor or associate pastor while working in management at Philips Electronics in their Healthcare Division.

Information for these articles was compiled by Dr. Denny Wubbena, Professor of Marketing in the Business Department.

5 Financial Red Flags and How to Fix Them

Before you do anything else with your money, address these problem areas.

A key concept taught in Scripture is that we are stewards. In Genesis 1, God tells Adam that he is to steward creation. If I understand this concept, then I realize that all that I have has been given to me by God, and He asks me to steward those resources well. This concept works itself out in a number of ways.

As a parent, I realize that my three sons do not belong to me. My wife and I have been entrusted to create an environment that allows them to become what God has designed them to be, but ultimately they belong to Him. God holds me accountable only for how I steward them.

The same principle applies when we talk about money. God wants us to manage resources to honor Him and display His purposes for our lives. If you are not disciplined in this area, then it is difficult to be disciplined in other areas of your life. That is why I believe God spends more time in his Word talking about money than any other subject.

Passages like Luke 16:13 remind us that “you cannot serve two masters.” Indeed, handling money can point to areas of distrust and idolatry in our hearts. One of the main competitors to surrendering to Jesus is holding tightly to money and stuff. I believe that many in the Kingdom do not reach their potential because they fail to search themselves and submit to managing money God’s way.

The path to financial health can be a long and difficult road, but starting to walk in the right direction is a good start. Here are five behaviors or patterns that suggest you may be in some real financial trouble:Read More

You pay minimum monthly installments on credit cards.

To illustrate why this should be avoided, consider the individual who has a credit card balance of almost $1,800. If the interest rate on the card is 18 percent and only the minimal payment is paid, it will take more than 17 years to pay off the balance.

You borrow to pay routine expenses or purchase depreciating items.

This practice makes it tough to keep track of what you owe, and where. This is a sign that your lifestyle is not in step with what you earn.

You hide expenditures from your spouse.

It is imperative that you and your partner are in agreement on how to handle money. Unfortunately, this is usually indicative of something far greater than just money.

You need a co-signer for a loan.

This indicates that the lending institution believes you are at high risk for not being able to make the payments. This reminds us why co-signing can be so damaging. If the lending institution does not believe you are a good credit risk, why should your friend or family?

Your Kingdom-oriented giving is reduced or non-existent.

Luke 12:34 essentially says that your heart will follow your money. Failing to support meaningful work in the Kingdom should be a concern for anyone who wants to draw closer to God and pull away from this temporary world.

If you are trapped in any or a few of the above circumstances, it may feel like nothing is ever going to change. But now let me line out five practices that can help get you on the path to financial health, and perhaps even allow God to accomplish new and exciting purposes through your new found freedom.

Download a budget sheet for your family’s personal use

Have a budget.

Just because it’s a simple principle doesn’t mean everyone does it. Having a budget demonstrates that you have a plan or purpose for your money. Without a budget, you are planning to fail financially. Planning is powerful because it brings clarity to financial discussions and priorities. There are a number of good online resources that will help you budget by whatever time increment you choose.

Have insurance.

When looking for places to cut back, look somewhere besides your insurance coverages. Insurance reduces the risk on you if you don’t have the financial means to deal with a loss. For example, most people don’t have lots of cash sitting around to replace a car if it was totaled. Visit with your insurance agent to see how you might be able to save some money while remaining covered.

Be open.

Financial problems can feel embarrassing, but more likely than not, someone in your network has experienced a similar situation. Most of all, don’t hide your financial reality from your spouse. Allow your church family to pray for you and equip you with resources for getting to a healthier place.

Understand your health care situation.

There has been much in the news – mostly political and not very helpful regarding the Affordable Care Act (Obamacare). But if you are a young adult, one key element of the act that should be followed is to stay on your family’s coverage until you turn 26. Even if you are out of school or get married, this can provide financial relief during your young adulthood.

Appreciate the time value of money.

The right time to start saving for the future is now. If you can’t do it now, then start to make steps towards doing it soon. That’s because the interest rate and time of money is crucial to your long-term financial health.

Let me illustrate the role of time: Two twins (Bob and Ralph) have two different approaches. Bob is 25 and saves $100 per month for 10 years. After 10 years, he stops saving and lets the money grow through compounding. If he is able to obtain an interest rate of 10 percent (yes, this is still possible through good growth mutual funds), by the age of 65 he will have contributed $12,000 which has grown to $333,574.

His brother Ralph decided to wait and start saving when he was 35. He saves $100/month for 30 years, so by the age of 65 he has contributed $36,000 that has grown to only $197,400.

This is the power of compounding. The lesson? Start early, realizing that the growth of your money is most significant the last few years.

I believe we all desire to make a difference. If you are in financial trouble, realize the warning signs and understand that there are resources available to help. In the next installment of this series, we’ll break down finances based on what stage of life you are in, and cover some real long-term goals and strategies.

Steps to Take Now for a Better Financial Future

Depending on which life stage you are in, there are some distinct opportunities and risks that you may face on your financial path

Last time, we considered stewardship and five red flags that inhibit financial health. Today, as we continue this series inspired by Financial Literacy Month, I want to discuss the different stages of life. Depending on which stage you are in, there are some distinct opportunities and risks that you may face on your financial path.

Life is a wonderful gift, with each day an opportunity to respond to the purposes for which each of us was created (Ephesians 2:10). However, life events are not always predictable and there are times in which we find ourselves in challenging situations.

The typical response to financial struggle is to rely on credit. Planning is often avoided based on a multitude of reasons that really serve as justification for procrastinating.

Marketing researchers have identified patterns of financial behavior that are common for people in distinct life stages. Examining these stages provides insight for avoiding pitfalls and planning for the future.Read More

The Bachelor/Bachelorette Stage

Characteristics:

Young, unmarried, fully employed (have graduated from either high school or college), and no dependents.

Risks:

Unwise purchasing decisions, while attempting to buy bigger and better to match what they grew up with in their parents’ home.

Opportunities:

There is a great deal of mobility and few financial commitments beyond a possible student loan and/or a car payment. Any surplus in this stage should be used to establish an emergency fund (three-six months of take home) and reducing any debt.

Newlywed Stage

Characteristics:

Both spouses employed, with no kids.

Risks:

Making financial decisions based on ability to make the monthly payments rather than the total cost associated with item purchased. Failing to aggressively deal with debt, especially school loans. Taking on debt to achieve a desired lifestyle – borrowing money on furniture, vehicles and home.

Opportunities:

However possible, try to live on the largest of the two incomes and use the other spouse’s income to reduce debt and save for big purchases. This approach prepares people for their first child because the budget is already organized for increased demands.

Married with Kids

Characteristics

Career-oriented, gaining work experience and increasing earning power. Starting a family brings huge excitement, often leading to the purchase of a home if not done in an earlier stage.

Risks

Underestimating the financial challenges of raising a family. If too many financial commitments (including debt) have been made, a one-income household is not realistic. This is why decisions made in the newlywed stage are so significant.

Opportunities

Rather than assume that income will increase at the same pace as expenses, stick to a budget and continue to reduce debt or invest in the future. Obtain adequate life insurance on both spouses to allow the family to have adequate income should something happen to one of the parents. Rather than assume that income will increase at the same pace as expenses, stick to a budget and continue to reduce debt or invest in the future

Married with Teenagers

Characteristics

One or multiple children with food, clothing, insurance and school activity funding needs. Competing desires and needs in the household.

Risks

Overuse of credit to solve cash shortages. Not preparing for college education, potentially creating financial difficulties for the next generation and/or creating more debt.

Opportunities

One of the best opportunities is to avoid emotional decision-making. Teens typically want designer clothes and won’t be caught dead driving that old car. Use this time as an opportunity to teach them good financial practices through realistic saving and spending patterns (while putting your own money in more useful places).

Empty Nest Stage

Characteristics

Empty homes, reducing some financial stresses, but causing new relational norms for married couples.

Risks

There are many risks in this stage. In an attempt to enjoy life after the grind of raising children, some people splurge on vacations or other large expenditures. This throws off the financial balance and leads to having to work longer than desired. It can even impact retirement. Others try to catch up with investments for retirement and take unwarranted risks.

Opportunities

Spouses that had stayed at home may now return to work, increasing cash flow and discretionary funds. Paying off the mortgage or other outstanding debt may become realistic during this stage. Choose an investment strategy that protects assets.

Retirement

Make sure you have completed a personal information form to help your family avoid stress

Income is drastically reduced. Expenses are now being paid from the investments (fewer companies are offering traditional pensions) that you must manage. Increased reliance on Social Security. While some expense items are lessened, healthcare can be substantial.

Risks

Relying on Social Security as your primary source of income. Social Security should only be part of your financial picture because it will not be adequate. Being ill-equipped for long-term care can wipe out your portfolio in just a few years.

Opportunities

Document your plans with family members to help them avoid stress with hospitals and nursing homes if you become ill. But mostly, enjoy the time you’ve prepared for with wise financial decisions earlier in life.

What stage are you in? What do you need to do to prepare for the next stage? How you answer these questions will ultimately determine what type of steward you have been with God’s resources.

Rebecca Grant Shults has looked squarely into the face of human desperation, but she also has seen the love of Christ free the human spirit and transform lives. She puts her hope in the God who can do that. Shults, a 2004 Evangel University graduate, grew up overseas. She is the daughter of David Grant […]

Rebecca Grant Shults has looked squarely into the face of human desperation, but she also has seen the love of Christ free the human spirit and transform lives. She puts her hope in the God who can do that.

Shults, a 2004 Evangel University graduate, grew up overseas. She is the daughter of David Grant and Dr. Beth Grant, co-founders of Project Rescue. This ministry provides physical, emotional and spiritual rescue and holistic restoration to women and children in sexual slavery.

“I first met women and girls who were survivors of sex trafficking when I was 16,” Shults says. “I saw such a contrast. I saw hope and joy in the eyes of those who had come to know Christ as compared to the death in the eyes of those on the street, in the red light district.”

Shults now works alongside her husband, Tyler, using the arts for healing through Rescue Arts. Rescue arts is a method for facilitating healing, developed by Rebecca, that involves working with trauma survivors and encouraging freedom of expression in the creative and performing arts.

“In India, they love to dance, so I almost always include that just because they love it,” Shults says. “Then we’ll move to creative writing and art. Knowing these girls’ stories, knowing how powerful God is to bring joy and hope, that’s what gives me the motivation to go on, fighting for restoration and sharing God’s love with as many people as we can. The only hope is Jesus. If I didn’t know stories of his miraculous help, I couldn’t go on.”

The Shults have found their place of service in India, but she did not necessarily set out with this destination in mind.

“I went to India to give a year and it turned into another year and another year,” she says.

“I went because I was passionate about an issue. Halfway into that process, living in the homes with these women and girls, I fell in love with India. It became more about the people than the issue.”

Shults uses her degree in drama and speech education from Evangel, coupled with her master’s in theater from Missouri State University, to help trauma survivors.

“I added the education major at Evangel to be practical,” Shults says. “I’m so glad I did because there have been so many settings where I use my classroom management skills — in working with kids with short attention spans, in lesson planning. I feel like I got a great education. I loved living on campus all four years. I just love that I have this diverse group of friends who are all serving God in different ways.”

In the meantime, she gives the following advice to others contemplating how to best use their talents: “God uses us first where we are. Foster care abuse survivors in Missouri were the first people with whom I worked. If God is leading you to start something creative, do it where you are first. Allow God to open doors. That’s how he prepared me for overseas.”

Former business executive Bernie Dana learned the hard way about the grueling nature of the teaching profession, when he came to Evangel in 2001. “I came here to teach 13 years ago, thinking I was semi-retiring from my hard work and long hours as a corporate executive,” Dana said. “My teaching experience was limited mostly to […]

Former business executive Bernie Dana learned the hard way about the grueling nature of the teaching profession, when he came to Evangel in 2001.

“I came here to teach 13 years ago, thinking I was semi-retiring from my hard work and long hours as a corporate executive,” Dana said. “My teaching experience was limited mostly to corporate and public seminars. To put it bluntly, I was naive about classroom teaching, even though I had served on the EU board of directors for 16 years.”

His efforts, however, are paying off.

Dana, chair of the business department, is the 2014 recipient of Evangel University’s E.M. and Estella Clark Award for Excellence in Teaching, Scholarship and Service.

The nominations for the award are made by students, faculty and staff — a pool of people who have grown to appreciate his contribution to Evangel and to their lives personally.

Dana, a 1967 graduate of Evangel, invested most of his career in the long-term care profession. He retired as executive V.P. of Vetter Health Services, based in Omaha, Neb., an organization with 32 care facilities in a five-state region.

During his career, Dana served for 16 years on Evangel’s board of directors, and before that, as president of the EU Alumni Association. He received the Distinguished Alumnus Award in 1996.

“Bernie Dana brings his knowledge, experience and wisdom to the classroom,” said Dr. Glenn Bernet, provost and V.P. for academic affairs. “Since coming to Evangel, he has authored a book, published articles and been innovative in his teaching. As business department chair, he goes far beyond the call of duty to care for our students, direct our business programs and serve as mentor to students and faculty.”

“It is a privilege to be able to invest in the lives of the students each day,” Dana said. “I am deeply honored to be selected from such an amazing group of educators with degrees and abilities far beyond my own.”

]]>https://www.evangel.edu/2014/05/12/business-professor-honored-highest-faculty-award-excellence-evangel/feed/0Alumnus donates money to students with one stipulation: They must give it awayhttps://www.evangel.edu/2013/02/20/alumnus-donates-money-to-students-with-one-stipulation-they-must-give-it-away/?utm_source=rss&utm_medium=rss&utm_campaign=alumnus-donates-money-to-students-with-one-stipulation-they-must-give-it-away
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This fall, Evangel business students received a taste of what it takes to secure donations in a nonprofit organization – with a twist. Instead of the ones asking for the donations, they were the ones giving them. Philanthropy: Theory and Practice is a brand-new business course added as part of Evangel’s recently added Nonprofit Business […]

This fall, Evangel business students received a taste of what it takes to secure donations in a nonprofit organization – with a twist. Instead of the ones asking for the donations, they were the ones giving them.

Philanthropy: Theory and Practice is a brand-new business course added as part of Evangel’s recently added Nonprofit Business and Social Enterprise program. Bernie Dana, Business Department chairman, says the course is designed to explore why people give and provide various approaches to encourage people to give toward a certain cause.

During the semester, each student in the class received $100 to donate to one or more nonprofit organizations of his or her choosing. Students were required to research their organizations beforehand and write a report about their experience afterward. The money was donated by an alumnus who believes that thoughtful fundraisers should know what it means to be a thoughtful donor.

Eveline Lewis

“Because we focus on how to get more revenue streams, we have to get into the mind of the givers,” says Eveline Lewis, instructor of the course.

The fall was Lewis’ first semester teaching at Evangel. Originally from Indonesia, Lewis had spent the past 17 years serving overseas with the Assemblies of God World Missions and working extensively with nonprofit organizations as a field worker in a third-world country, teaching business courses, managing an orphanage and working with ministries to street children.

Lewis says she is amazed at how her hiring, the donation and the new major all converged at the same time.

“I believe God put everything together. Evangel was starting something that I had a passion for, and then there’s another person who wanted to donate the money to help the students learn,” she says.

Cheryl Craighton, a junior Nonprofit Business and Social Enterprise major, says she learned a lot about nonprofit businesses through this course. She says a class like this is needed in many schools because of the well-rounded view it gives of the organization.

“Many people are either involved strictly in the volunteering and the fundraising of a nonprofit, and they may not be aware of the importance of also having a background in business or management to lead a program,” she says. “This course helped me gain a comprehensive view of people who work for nonprofits and all the different, fundamental pieces that work together to run a nonprofit corporation.”

Craighton says she spent quite a bit of time deciding on her organization, but she ended up choosing two: the A21 Campaign, which fights against human trafficking, and a project to help build a school in El Salvador.

“Even though it was not my money, it taught me how to cheerfully give and know that I am helping make an impact,” she says. “It showed us what it is like to be a giver, when we will more than likely end up in a career that will be consistently asking for donations.”

Lewis says that some of the charities were impressed by the students’ desire to become involved and that many of the charities wrote thank-you letters.

“The nicest thing about it for me as a teacher is how much they have learned about nonprofit organizations and the different purposes of nonprofits,” says Lewis. “Our students chose multiple organizations. This new course expanded their thinking about nonprofit not only here in Springfield, but also globally. I think they came out with more understanding on how the nonprofit actually works instead of just an organization that takes money.”

Lewis says this course will continue to be offered during the fall in future years.

If you talk with Seth McCurley about the internship he did after graduating in May, be ready to volunteer. His passion is that convincing. McCurley earned a degree in Theology with a minor in Public Relations/Advertising from Evangel University. The combination proved to be a perfect fit for him and his passion to help others. […]

If you talk with Seth McCurley about the internship he did after graduating in May, be ready to volunteer.

His passion is that convincing.

McCurley earned a degree in Theology with a minor in Public Relations/Advertising from Evangel University. The combination proved to be a perfect fit for him and his passion to help others.

“I appreciate that Evangel is not a Bible school, it is a liberal arts university,” McCurley says. “The mix of courses gave me a well-rounded approach to life.”

The three-month internship was with Samaritan’s Feet, a nonprofit based out of Charlotte, North Carolina. With the help of more than 70,000 volunteers, they have distributed an estimated 4 million pairs of shoes. Less than 30 people are employed with Samaritan’s Feet, so the volunteers play a vital role.

For McCurley, Samaritan’s Feet is about more than providing shoes, it’s about providing hope.

“When you provide a pair of shoes to a child in need, their lives may literally be altered,” McCurley says.

Seth McCurly met this little girl who flung her arms around him and didn’t let go. Giving children like this love and hope is what Samaritan’s Feet is all about.

“The feet of the recipients are washed by volunteers before they place socks and shoes on their feet. We pray together with those we are serving, and the children are encouraged not only to dream, but to fight for their dream.”

McCurley traveled to Peru for shoe distributions in June. The trip was a moving experience.

One little girl came to him to receive her shoes, but instead of telling him her name and shoe size, she wrapped her arms around his neck and wouldn’t let go.

“She didn’t want to tell me her information,” McCurley says, “because she didn’t want me to give her the shoes and be done. I just took her over to the recreation area and played with her for about 45 minutes. They don’t get loved on like that.”

A local woman brought the volunteers a gift of thanks, a bottle of their favorite soda, which in comparison to U.S. standards would have been like being given a $200 watch. The beverage was shared and savored as the valuable gift it was meant to be.

“The experience with Samaritan’s Feet has given me such a heart for nonprofits,” McCurley says. “I think this is where my life might be headed.”

“The main mission of Samaritan’s Feet is to spread hope. You have a little kid who is growing like a weed. You give him a pair of shoes, and in a few months, the shoes won’t even fit. But to be able to sit down and pray with him, that’s what it’s all about.”

— Senior social work major Mehleena Edmonds and Valorie Coleman, assistant public relations director

Freddie Ouma and Patrick Maina work by day to fight human trafficking in their neighborhood of Nairobi, Kenya. At night, their hip-hop group, BMF, plays concerts for thousands of fans. And after the music dies down, they walk back to their homes on the outskirts of Nairobi’s most dangerous slum, Mathare Valley. In a country […]

Freddie Ouma and Patrick Maina work by day to fight human trafficking in their neighborhood of Nairobi, Kenya. At night, their hip-hop group, BMF, plays concerts for thousands of fans. And after the music dies down, they walk back to their homes on the outskirts of Nairobi’s most dangerous slum, Mathare Valley.

In a country where “everyone is a musician,” how did these two get their break? Through an Evangel University connection.

Following his graduation from Evangel in 2006, Springfield-native Nate Kaunley started Dusty Feet as a nonprofit organization to work in Nairobi’s urban communities. There he met Freddie and Patrick, discovered a shared vision, and formed a partnership to better the lives of those marginalized by poverty in Kenya.

“Since then, we have built a safe house for youth living on the streets of Nairobi, brought life-saving programs and resources to the slums, and sponsored legislation to outlaw human trafficking in Kenya. That legislation passed in 2010,” says Kaunley.

“We all operate under the same world view,” says Kaunley. “Empowering people is something we learned was important at Evangel; and now, it is what we do.”

From left, BMF group members Harrison Ashioya, Sammy Dee, Freddie Ouma, and Patrick Maina perform at the 2011 Groove Awards where they won Best Duo/ Group of the Year. Photo submitted by BMF

Freddie and Patrick were among the first to benefit from Dusty Feet. They credit the partnership with a job, which then led to great exposure in their community and empowerment to pursue their musical dream.

Since 2009, BMF has taken off — they’ve been named Best New Artist, Most Promising Group, and Best Group at major African music-awards events.

Yet, thankfully, they refuse to give up their day job.

“As country directors, they are Dusty Feet’s hands and feet on the ground,” says Kaunley. “We wouldn’t have had the success that we’ve had without them.”

]]>https://www.evangel.edu/2012/06/29/dusty-feet-partners-with-award-winning-east-african-hip-hop-duo-to-improve-plight-of-those-in-kenya/feed/0Nonprofit Business & Social Enterprise major launchedhttps://www.evangel.edu/2012/05/09/evangel-launches-nonprofit-business-social-enterprise-major/?utm_source=rss&utm_medium=rss&utm_campaign=evangel-launches-nonprofit-business-social-enterprise-major
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Evangel University’s Department of Business will launch a new and unique Nonprofit Business & Social Enterprise major beginning in the fall 2012 semester. The major will include six new courses specifically focused on the ways in which administration of nonprofit organizations often differ from for-profit organizations. “This new program will appeal to a lot of […]

The major will include six new courses specifically focused on the ways in which administration of nonprofit organizations often differ from for-profit organizations.

“This new program will appeal to a lot of students who enjoy business and also have a passion to serve others,” said Bernie Dana, Department Chair. According to Dana, there are only a few universities that offer this kind of program as an undergraduate major.

Initial funding for the new program will come through a $45,000 grant from the Vetter Foundation, based in Omaha, Nebraska.

“I was intrigued when Bernie approached me about how this new business major at Evangel will enable students to apply business concepts to improve the management and promotion of humanitarian, missions, and social enterprise endeavors,” said Jack Vetter.

The Vetter Foundation was established in 1992 as a private foundation to provide material support for sustainable missions and humanitarian projects.

The $45,000 grant will be paid in equal installments over the next three years.

“This grant will cover the cost of subject matter experts to serve as adjunct faculty for the new courses, as well as to help students in the major with travel expenses for the required field experience,” said Dana.

New courses in the Nonprofit Business & Social Enterprise major will include:

The Theory and Practice of Philanthropy

Nonprofit Financial Management

Nonprofit Governance and Law

Volunteer Engagement and Resource Management

Nonprofit Marketing and Promotion

Introduction to Social Enterprise

“These courses will dovetail with Evangel’s traditional business curriculum and electives,” said Dana. “The new program is designed to enable students to integrate business courses into a wide range of vocational areas such as social work, criminal justice, intercultural studies (missions), digital arts, music or even recreation.”

Evangel’s Department of Business offers majors in accounting, finance, management, marketing, public administration and business education. They also offer a master’s degree in organizational leadership.

Vetter’s involvement at home and abroad

Vetter and his wife, Eldora, are the founders of Vetter Health Services, a for-profit group of 32 nursing homes and retirement living facilities in a five state region of the Midwest — including Creekside at Elfindale and the Manor at Elfindale in Springfield, Missouri.

Vetter has also developed and operates Water for the World, a nonprofit water drilling and development company in Kenya, Africa.

“Our Foundation also provides support for organizations like Convoy of Hope, because the way in which they operate is good business,” said Vetter.

“We see this opportunity to help develop Evangel students, with these skills and interests, as a good investment of the God-given resources that we have reserved for this purpose.”

Jack and Eldora Vetter began Vetter Health Services (VHS) in 1975 with the acquisition of one nursing home in rural Nebraska. Their 32 facilities are located in Nebraska, Iowa, Kansas, Wyoming and Missouri.

Bernie Dana served as the executive vice president of VHS until his retirement to join the faculty at Evangel University in 2001.

]]>https://www.evangel.edu/2012/05/09/evangel-launches-nonprofit-business-social-enterprise-major/feed/0Nonprofit Business & Social Enterprise major launchedhttps://www.evangel.edu/2012/05/09/evangel-launches-nonprofit-business-social-enterprise-major-2/?utm_source=rss&utm_medium=rss&utm_campaign=evangel-launches-nonprofit-business-social-enterprise-major-2
https://www.evangel.edu/2012/05/09/evangel-launches-nonprofit-business-social-enterprise-major-2/#commentsWed, 09 May 2012 19:48:05 +0000http://www.evangel.edu/?p=10061

Evangel University’s Department of Business will launch a new and unique Nonprofit Business & Social Enterprise major beginning in the fall 2012 semester. The major will include six new courses specifically focused on the ways in which administration of nonprofit organizations often differ from for-profit organizations. “This new program will appeal to a lot of […]

The major will include six new courses specifically focused on the ways in which administration of nonprofit organizations often differ from for-profit organizations.

“This new program will appeal to a lot of students who enjoy business and also have a passion to serve others,” said Bernie Dana, Department Chair. According to Dana, there are only a few universities that offer this kind of program as an undergraduate major.

Initial funding for the new program will come through a $45,000 grant from the Vetter Foundation, based in Omaha, Nebraska.

“I was intrigued when Bernie approached me about how this new business major at Evangel will enable students to apply business concepts to improve the management and promotion of humanitarian, missions, and social enterprise endeavors,” said Jack Vetter.

The Vetter Foundation was established in 1992 as a private foundation to provide material support for sustainable missions and humanitarian projects.

The $45,000 grant will be paid in equal installments over the next three years.

“This grant will cover the cost of subject matter experts to serve as adjunct faculty for the new courses, as well as to help students in the major with travel expenses for the required field experience,” said Dana.

New courses in the Nonprofit Business & Social Enterprise major will include:

The Theory and Practice of Philanthropy

Nonprofit Financial Management

Nonprofit Governance and Law

Volunteer Engagement and Resource Management

Nonprofit Marketing and Promotion

Introduction to Social Enterprise

“These courses will dovetail with Evangel’s traditional business curriculum and electives,” said Dana. “The new program is designed to enable students to integrate business courses into a wide range of vocational areas such as social work, criminal justice, intercultural studies (missions), digital arts, music or even recreation.”

Evangel’s Department of Business offers majors in accounting, finance, management, marketing, public administration and business education. They also offer a master’s degree in organizational leadership.

Vetter’s involvement at home and abroad

Vetter and his wife, Eldora, are the founders of Vetter Health Services, a for-profit group of 32 nursing homes and retirement living facilities in a five state region of the Midwest — including Creekside at Elfindale and the Manor at Elfindale in Springfield, Missouri.

Vetter has also developed and operates Water for the World, a nonprofit water drilling and development company in Kenya, Africa.

“Our Foundation also provides support for organizations like Convoy of Hope, because the way in which they operate is good business,” said Vetter.

“We see this opportunity to help develop Evangel students, with these skills and interests, as a good investment of the God-given resources that we have reserved for this purpose.”

Jack and Eldora Vetter began Vetter Health Services (VHS) in 1975 with the acquisition of one nursing home in rural Nebraska. Their 32 facilities are located in Nebraska, Iowa, Kansas, Wyoming and Missouri.

Bernie Dana served as the executive vice president of VHS until his retirement to join the faculty at Evangel University in 2001.